Indian
Indices: Asian indices opened with minor losses as weak oil prices and sell off
in US Dollar saw Japanese stocks fall along with the Yen strengthening. The
Federal Reserve Chairman Janet Yellen testimony today will be closely tracked
as her call on rates will see bond yields decide the way forward for equities
in the near term.

Nifty hit new highs above 9800 but succumbed to profit booking in the
last hour to close below 9800. Short covering by foreign investors due to
P-NOTE ban may have played out in the last 2 days with market now seeing the
highest long positions in recent times. Caution would be the buzzword as PCR
(put call ratio) readings @ 1.40 signal extremely over bought readings on the
derivative counters

The BSE
Sensex is currently trading at 31810.55, up by 63.46 points or 0.20% after
trading in a range of 31755.32 and 31865.69. There were 19 stocks advancing
against 12 stocks declining on the index. The broader indices were trading in
green; the BSE Mid cap index was up by 0.51%, while Small cap index was up by
0.22%.

The CNX Nifty is currently trading at 9810.75, up by
24.70 points or 0.25% after trading in a range of 9791.20 and 9823.00. There
were 34 stocks advancing against 17 stocks declining on the index.

MARKET
INDICATORS

·

Group ATopGainers

Company

Price (Rs)

% chg

PTC

108.35

7.92

Biocon

342.85

6.11

Videoind

30.45

5.00

GMDCLTD

150.70

3.97

Group ATopLosers

Unitech

7.18

-5.03

Bajajelec

332.95

-2.15

DHFl

430.50

-1.52

APLLTD

526.95.

-1.37

INDEX
PERFORMANCE

Indices

Support

Resistanes

Sensex

31680

31950

Nifty

9765

9850

Technical view: Nifty finds strong support around 9709 which was the
previous top while 9825 will act as resistance on the upside. Bank Nifty also
faces resistance around 23750 while 23500 will act as support on the
downside.

Cipla July FUT (Sell Below 540 with Stop Loss at
547.5 for Target of 525):The stock has been consolidating for over five
weeks and has finally broken down from the neckline of the consolidation
pattern on the daily charts. Other oscillators also indicate negative
crossovers, which mean that the decline is likely to further extend. We
expect Cipla to slip lower towards Rs 525 in near term.

EconomicSnippets:

India's
Supreme Court suspended a government order that had banned the trade of
cattle for slaughter, giving relief to the multi-billion dollar beef and
leather industries that employ millions of poor workers.

A
Public Private Partnership (PPP) model could be tried to to give a fillip to
India's mineral exploration that is currently constrained due to lack of
private sector participation in the activity, PiyushGoyal, union minister of
state for power, coal, new & renewable energy and mines, said. The
finance ministry will soon seek Cabinet approval for a legislation to ban
illicit deposit schemes and table it in the Parliament's forthcoming Monsoon
session, a senior government official said today.

Nifty Movers: The top
gainers on Nifty were Hindustan Unilever up by 2.63%, Indian Oil Corporation
up by 2.27%, ACC up by 2.01%, Ambuja Cement up by 1.37% and ONGC up by
1.34%. On the flip side, TCS down by
0.72%, Bank of Baroda down by 0.43%, AurobindoPharma down by 0.30%, Hero
MotoCorp down by 0.28% and HDFC down by 0.26% were the top losers.

Top Sectoral& Stock Screening:The top gaining sectoral indices on the BSE were Oil & Gas up by
1.29%, Energy up by 1.18%, PSU up by 0.71%, Utilities up by 0.62% and Power
up by 0.53%, while IT down by 0.14% was the sole loser on BSE.

Top of Form

Bottom of Form

Bottom of Form

On the global front: On the global front, Asian shares were trading
mostly in red, while shares in Hong Kong put in a strong showing. Investors
across Asia are now looking forward to a raft of economic data coming out on
Thursday and Friday as well as the testimony of US Federal Reserve chair
Janet Yellen